1557-AD87 202304 Unified Agenda of Federal Regulatory and Deregulatory Actions 1557 Comptroller of the Currency OCC 1500 Department of the Treasury TREAS Automated Valuation Models

The OCC, FRB, FDIC, NCUA, FHFA, and CFPB, in consultation with the FFIEC Appraisal Subcommittee and the Appraisal Standards Board of the Appraisal Foundation, are required to promulgate regulations addressing quality control standards for automated valuation models.  Section 1473(q) of the Dodd-Frank Act requires that automated valuation models used to estimate collateral value for mortgage lending comply with quality control standards designed to ensure a high level of confidence in the estimates produced by automated valuation models; protect against manipulation of data; seek to avoid conflicts of interest; require random sample testing and reviews; and account for other factors the agencies deem appropriate.  The agencies plan to issue a proposed rule to implement the requirement to adopt quality control standards.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Proposed Rule Stage Undetermined Undetermined 12 CFR 34 12 U.S.C. 1 et seq. 12 U.S.C. 25b 12 U.S.C. 29 12 U.S.C. 93a 12 U.S.C. 371 12 U.S.C. 1462a 12 U.S.C. 1463 12 U.S.C. 1464 12 U.S.C. 1465 12 U.S.C. 1701j-3 12 U.S.C. 1828o 12 U.S.C. 3331 et seq. 12 U.S.C. 5101 et seq. 12 U.S.C. 5412(b)(2)(B) 15 U.S.C. 1639h 12 U.S.C. 1828(m) No NPRM 07/00/2023 Undetermined Undetermined Undetermined No No No 7100 Federal Reserve System FRS Joint 3064 Federal Deposit Insurance Corporation FDIC Joint 3133 National Credit Union Administration NCUA Joint 2590 Federal Housing Finance Agency FHFA Joint 3170 Consumer Financial Protection Bureau CFPB Joint Mitchell Plave Special Counsel 1557 Comptroller of the Currency OCC 202 649-6285 mitchell.plave@occ.treas.gov Chief Counsel's Office, 400 7th Street SW, Washington DC 20219